News – Page 84 – The Diamond Certification Laboratory of Australia (DCLA)

GIA to Reopen New York Lab

The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.

“As restrictions are lifted and the global gem and jewelry industry begins to recover, we are safely reopening GIA locations, returning staff to work and preparing to engage in our mission-driven activities,” GIA CEO Susan Jacques said Thursday. “We are strictly following government regulations and guidelines, implementing new processes, and adapting our facilities to keep everyone who comes to GIA — staff, clients, students and visitors — healthy and safe.”

With the 47th Street venue back in action, all 11 of the GIA’s laboratories will have unlocked their doors. The 10 other sites are steadily increasing their hours and adding extra shifts to meet growing demand for their services, the GIA said.

Meanwhile, its gemological schools in Taipei and Hong Kong are open, and all other GIA educational centers will welcome back on-campus students “in the near future,” it said.

The organization closed most of its sites in March as the virus spread, and gradually reopened them as lockdown restrictions eased. It will continue to monitor local-government and health rules in each location and adjust its services as necessary.

Source: Diamonds.net

Origin of British Crown Jewels’ diamond revealed

Queen Elizabeth the II British Crown Jewels

The famous Cullinan diamond, which is now the centrepiece of the British Crown Jewels, likely originated in Earth’s lower mantle, right beneath the rigid and stable continental plates, where the mantle is slowly moving or convecting.

The finding is part of ongoing research carried out by Evan Smith and Wuyi Wang at the Gemological Institute of America. The new insight was presented by Smith at the virtual 2020 Goldschmidt Conference organized by US-based Geochemical Society and the European Association of Geochemistry.

Smith and his team concluded that the Cullinan diamond was likely formed in the lower mantle and can be considered a ‘super-deep’ stone after examining an analog, large 124-carat diamond from Gem Diamonds’ (LON: GEMD) Letšeng mine in Lesotho.

According to the researchers, recent analyses of this walnut-sized diamond revealed that it contains remains of an important element: bridgmanite.

The Cullinan II or the Second Star of Africa, a diamond that weighs 317.4 carats, is mounted in the Imperial State Crown.

“Finding these remnants of the elusive mineral bridgmanite is significant. It’s very common in the deep Earth, at the extreme pressure conditions of the lower mantle, below a depth of 660 kilometres, even deeper than most super-deep diamonds,” Smith said in his presentation. “Bridgmanite doesn’t exist in the upper mantle, or at the surface. What we actually see in the diamonds when they reach the surface is not bridgmanite, but the minerals left when it breaks down as the pressure decreases. Finding these minerals trapped in a diamond means that the diamond itself must have crystallized at a depth where bridgmanite exists, very deep within the Earth.”

By aiming a laser at the tiny inclusions trapped inside the diamond, the researchers found that the way the light scattered (using a Raman spectrometer) was characteristic of bridgmanite breakdown products.

The Letšeng mine diamond is so pure that it doesn’t contain nitrogen in its crystal structure. This characteristic classifies it as a ‘Clippir’ diamond, which is the same category as that of the Cullinan diamond.

“What is special about this one is that it is the first Clippir diamond for which we can firmly assign a lower mantle origin, that is, below 660 kilometres,” Smith said. “Previously, we had known that Clippir diamonds are super-deep and speculated that their depth of origin might span 360 to 750 kilometres depth, but we hadn’t actually seen any that were definitely from the deeper end of this window.”

In the researcher’s view, this finding gives a better idea of exactly where Clippir diamonds come from and also shows that there is some overlap in the birthplace for Clippir diamonds and type IIb diamonds, such as the famous Hope diamond. This rare blue gem was owned by monarchs, bankers, heiresses and thieves until it landed at the Smithsonian National Museum of Natural History in Washington DC.

The overlap that Smith refers to points to a previous study in which the researcher showed that the Hope and other IIb diamonds originate in Earth’s deep mantle and that the boron that gives them a blue hue comes from the bottom of the oceans. To get into the diamond, the element is first dragged hundreds of kilometres by plate tectonics down into the mantle.

“It shows that there is a gigantic recycling route that brings elements from Earth’s surface down into the Earth, and then occasionally returns beautiful diamonds to the surface, as passengers in volcanic eruptions,” Smith said.

Souce: mining.com

No Buyer for 3ct. Blue Diamond at Sotheby’s

A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby’s Geneva auction.

Sotheby’s withdrew the stone from Tuesday’s Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was the auction house’s first live event since the onset of the coronavirus pandemic, and followed Part I, which took place online.

An oval-shaped, 21.56-carat, D-color, VVS1-clarity diamond ring by Lorraine Schwartz, valued at $1.5 million to $2 million, also went unsold. Other colored diamonds were not purchased, including a duet ring set with a pear-shaped, 3.03-carat, fancy-intense-blue diamond and a pear-shaped, 2.82-carat, D-color, VVS1-clarity diamond, as well as a step-cut, fancy-vivid-yellow diamond ring weighing 16.43 carats.

Meanwhile, the top-selling lot at the sale was a marquise-shaped, 7-carat, fancy-intense-pink diamond ring, which was auctioned for the first time after spending 30 years in a private collection. The piece sold for $2.8 million, within its $2.4 million to $3.4 million estimate.

Other notable items included a pear-shaped, 5.29-carat, fancy-grey-blue diamond ring, which garnered $2.1 million, beating its $1.2 million high estimate. A pair of cushion-shaped, D-color, VVS2-clarity diamond earrings, weighing 13.50 carats and 13.52 carats, fetched $1.5 million against an estimate of $1.2 million to $1.8 million.

Sapphires also proved popular, with a cushion-shaped, 105.89-carat ring going for $1.7 million, more than double its $670,000 high estimate. A cushion-shaped, 16.11-carat sapphire ring bracketed by diamonds also sailed past its $490,000 upper valuation, achieving $524,000.

Source: Diamonds.net

3-Carat Blue Diamond Could Fetch $6.3 Million At Sotheby’s Geneva Auction

Live jewelry auctions are returning with the first one being held in Geneva by Sotheby’s on June 23 offering a diverse collection of statement diamonds, colored gems and historic jewels.

Sotheby’s Part II Magnificent Jewels & Nobel Jewels – Geneva sale was originally scheduled for May but was postponed due to the novel coronavirus pandemic. The effects of the worldwide spread of this infectious disease is still being felt as dramatically reduced travel and freight shipments have hampered the efforts of jewelry specialists to assess gems and jewels. Most likely because of this and the scheduling changes the sale consists of only 48 lots, far fewer than usual for a live international auction. However, there will be a strong and varied selection gems and jewels.

The live sale is accompanied by an online auction, Sotheby’s Part I Magnificent Jewels & Nobel Jewels – Geneva, with 178 lots dating from the 19th century through to the present day. It includes jewels from renowned jewelry houses, including Sterlé, Suzanne Belperron, René Boivin and Hemmerle. This sale has begun and will run till June 24.

Not surprisingly colored diamonds are among the top lots in live sale, with blues, pinks and yellows dominating. The auction is led by a 3.01-carat fancy vivid blue step-cut, diamond. The colored gem set on a ring has a clarity grade of VS1 (very small inclusions), according to the Gemological Institute of America report. Its estimate is $4.3 – $6.3 million.Most Popular In: Watches & Jewelry

7-carat fancy intense light pink diamond, estimate: $2.5 – $3.5 million SOTHEBY’S

It’s followed by a 7-carat marquise-shaped fancy intense pink diamond. It received a clarity grade of VVS2 (very, very small inclusions) by the GIA. It is set on a ring flanked by fancy-shaped diamonds and with a shank lined with brilliant-cut diamonds. It’s the first time this diamond has come to auction in more than 30 years, where it has been kept in the same private collection. Its estimate is $2.5 – $3.5 million.

There’s also a selection of large, colorless diamonds led by a 21.56-carat D color, VVS1 clarity diamond by Lorraine Schwartz, an American bespoke high jewelry designer with a large celebrity clientele. The gem has excellent polish and symmetry, according to the GIA report.

The Duchess of Manchester's emerald and diamond necklace, estimate: $300,000 - $400,000 — The Duchess of Manchester’s emerald and diamond necklace, estimate: $300,000 – $400,000 SOTHEBY’S

Among the noble jewels in the sale, the standout is an emerald and diamond necklace owned by Consuelo Montagu (1853-1909), Duchess of Manchester, which was given to her as a wedding gift. Born in New York to parents of Cuban descent, she was known for her match-making skills, inspiring her wealthy friends to find suitable husbands in the United Kingdom, according to the auction house. Her ability to bring together American fortunes with noble titles led to the coining of the phrase “Million Dollar Princesses.” This antique jewel was displayed at the Victoria & Albert Museum in London for 22 years. Its estimate is $300,000 – $400,000.

Cartier diamond bracelet and pair of diamond clips, circa 1930 SOTHEBY’S

In addition, there’s a collection of jewels owned by Baroness Bachofen von Echt (1877 – 1959), a New York native who became German nobility through marriage. Pieces from her collection includes a diamond bracelet (estimate $100,000 – $150,000) and diamond clips (estimate $60,000 – $100,000), both made by Cartier, along with creations by Verdura and Hemmerle.

Two impressive sapphires are included in the sale. The first is a 105.58-carat Ceylon sapphire set on a gold ring. The gem is accompanied by reports from the Swiss Gemmological Institute (SSEF) and from Gübelin that both state that there are no indications of heating, with “a few minor nicks and chips consistent with normal wear.” Its estimate is $500,000 – $700,000.

16.11-carat Kashmir sapphire, estimate: $300,000 - $500,000 — 16.11-carat Kashmir sapphire, estimate: $300,000 – $500,000 SOTHEBY’S

The second is a 16.11-carat Kashmir sapphire set on an 18k gold and diamond ring. The gem is accompanied by two reports from the Swiss Gemmological Institute and from Gübelin that both state that there are no indications of heating and in “very good condition.” Its estimate is $300,000 – $500,000

The continued importance of signed jewels is evident in this sale with pieces from historic and contemporary jewelry houses, including Bulgari, Cartier, Fred, Furst. Harry Winston, Hemmerle, René Bovin, Tiffany & Co. and Van Cleef & Arpels.

Cartier diamond bracelet, Course de Feuillage, 1926, estimate: $200,000 - $300,000 — Cartier diamond bracelet, Course de Feuillage, 1926, estimate: $200,000 – $300,000 SOTHEBY’S

One of the standouts in this group is a Cartier diamond and platinum bracelet, Course de Feuillage, 1926. The entire bracelet is set with circular-, single-cut and baguette diamonds that combines geometric shapes with the stylized representation of leaves. Its estimate is $200,000 – $300,000.

Source: forbes.com

Dominion Diamond sues partner in Diavik mine

Canada’s Dominion Diamond Mines is suing Rio Tinto’s subsidiary DDMI, its associate in the iconic Diavik mine, for alleged breach of contract and acting against the best interests of the partnership.

The lawsuit, filed on Tuesday in the Supreme Court of British Columbia, alleges that Diavik Diamond Mines, which owns 60% of Diavik, has operated the mine in a manner that shows “willful misconduct and gross negligence.”

Rio’s subsidiary runs the Canadian Artic diamond mine, but takes regular payments from Dominion to cover the corresponding 40% share of the costs. The partners then divide up the diamonds produced at Diavik and sell them separately.

“DDMI has continued to maintain full operations at the Diavik mine without taking into account the disruptions to the diamond industry caused by the covid-19 and, in particular, without taking into account Dominion’s circumstances,” the suit alleges.

“DDMI has done so knowing that Dominion has no ability to pay for such cash calls because it cannot materially monetize diamond inventories to pay for them,” it notes.

DOMINION DIAMOND, WHICH IS FIGHTING BANKRUPTCY, ALLEGES DDMI IS MANAGING DIAVIK TO THE BENEFIT OF ITS MAJORITY OWNER, RIO TINTO

A spokesperson for Rio Tinto told mining.com the company would be “vigorously” defending Dominion’s “baseless claims” in court.

“We regret Dominion filing what are baseless claims against us,” the source said. “We remain focused on managing the mine safely just as we continue to protect Diavik’s interests in Dominion’s insolvency proceedings and the jobs of the more than 1,120 people who work at Diavik.”

The two companies are already tangled up in separate legal proceedings relating to Dominion filing for creditor protection in April.

The diamond miner said at the time that the covid-19 pandemic had had a “devastating impact” on the global diamond mining industry, particularly in the company.

Dominion signed in May a letter of intent to sell its stake in Diavik mine, in the Northwest Territories, as well as the neighbouring Ekati mine to a firm controlled by its parent company, the Washington Companies, for $126 million.

Under the deal, which is subject to a court-supervised bidding process, the privately held Montana-based conglomerate would also provide Dominion with up to $84 million in short-term debtor-in-possession financing.

The Toronto-based diamond miner was hoping to reach an agreement with Rio Tinto on Diavik, which is scheduled to close in 2025, with cleanup costs estimated at $365.3 million.

The global miner, however, said on Monday it did not intend to take full control of the Canadian Arctic diamond mine.

Shattered dreams
The coronavirus pandemic squashed diamond miners’ dawning hopes of a recovery in a sector already reeling from weak prices and demand since late 2018.

De Beers, the world’s largest producer by value, cut 2020 production guidance by a fifth last month after earlier cancelling its April sales event.

Russia’s Alrosa, the world’s top diamond producer by output, saw sales for rough and polished diamonds drop to $15.6 million. The figure stood in stark contrast to the $152.8 million the diamond miner fetched in March and the $405 million in January.

DOMINION IS SEEKING DAMAGES, COSTS, AND A RULING THAT THE JOINT VENTURE AGREEMENT HAS BEEN BROKEN. NO CASH VALUE WAS GIVEN IN THE FILING

Lucara Diamond, another Canadian company, posted earlier this month a net loss of $3.2 million, or $0.01 a share, for the first three months of the year.

The figure was in sharp contrast with the $7.4 million in net income, or $0.02 in earning per share the miner reported in the same period last year.

South Africa’s Petra Diamonds recently delayed interest payments to borrow $21 million in new debt, a crucial move to keep the company afloat.

Investment banks are increasingly reluctant to extend credit to diamond producers, as inventory is not being sold and defaults are possible, analysts have warned.

“We are concerned about an oversupply of rough diamonds following the reopening of economies, as a lot of inventory could potentially be flooded into the system and the market might not be able to absorb all of it, resulting in increased pricing pressure,” Citi said in an early May note.

Source: mining.com

Natural Diamond Council makes marketing push

The Diamond Producers’ Association (DPA), established only five years ago by a coalition of diamond miners including De Beers and Alrosa, has relaunched as the Natural Diamond Council.

In addition to continuing to advertise natural diamonds as the DPA did previously, the council is also hoping to reach younger consumers by producing catchy editorial content on trends and innovations in diamond jewelry and the heritage of natural diamonds.

The rebranding comes at a difficult time for the diamond sector, with the economic fallout from the coronavirus pandemic depressing demand and prices.

“The current economic climate creates unprecedented challenges for the luxury industry. But, as the climate improves, natural diamonds will connect stronger than ever before,” said Natural Diamond Council CEO, David Kellie in a release. “Consumers will have a greater respect for all things natural and seek brands that have an honest mission to be truly sustainable. They’ll be purchasing luxury goods with a greater meaning, particularly those celebrating connections between friends and loved ones. We need to speak to the younger audience in a different way and we’re delighted to have brought in a number of partners that will contribute to the new world of natural diamonds we’re creating.”

The website will offer coverage under six categories: Epic Diamonds, Hollywood & Pop Culture, Love & Diamonds, Style & Innovation, Diamonds 101 and Inside the Diamond World. The council has also started a new, biannual trend report written by style experts, forecasting diamond jewelry trends, and incorporating styling tips.

In addition, the DPA’s Real is Rare, Real is a Diamond campaign will be replaced with the council’s new branding: “Only Natural Diamonds” (OND).

“Our new digital platforms will inspire and inform consumers globally about the values and heritage of natural diamonds, as well as promoting the significant innovation happening throughout the world of diamond jewelry,” added NDC’s managing director, Kristina Buckley Kayel. “The younger audience is clearly engaged and inspired when we present ourselves with authority in the digital world. It’s our aim to be number one across all digital platforms in our industry and our ambitious plans reflect these goals.”

The Natural Diamond Council will also aim to educate consumers on the sustainability and ethical practices of diamond producers, as well as everything they need to know when buying diamond jewelry.

In a release, the organization said the relaunch reflects the collective commitment of its members, Alrosa, De Beers, Dominion Diamonds, Lucara Diamond, Petra Diamonds, Murowa Diamonds, and Rio Tinto, to the growth of the industry beyond the current economic crisis.

“Our mission is to educate consumers on the industry and positive social contribution diamonds make to the world today,” said Stephen Lussier, Chairman of the NDC. “Our members are committed to these goals and the launch of the NDC marks an exciting step on this path.”

Visit www.naturaldiamonds.com for more information.

Tiffany Reports Recovery in China Sales

Tiffany & Co said its jewelry business is rebounding in China after the coronavirus pandemic and its merger with French luxury retailer LVMH is clearing regulatory hurdles.

The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter as the pandemic shuttered shopping malls and stores across the globe. Yet CEO Alessandro Bogliolo pointed to China as “indicative that a robust recovery is underway.”

TIF swung to a net loss of $64.6 million, or 53 cents a share, from earnings of $125 million, or $1.03 a share, a year ago. Revenue fell 45% to $555.5 million.

Analysts were expecting Tiffany to earn three cents a share on sales of $701 million, but the coronavirus pandemic has made comparisons with estimates difficult to make.

The company has 324 stores worldwide. About 70% of the stores were closed as of April 30, when the fiscal first quarter ended.

Tiffany said its jewelry sales dropped off significantly in the three-month period. Engagement jewelry declined by nearly 50%, more than any other category.

The company said its focus on expanding business in China, investing in its websites and adding new jewelry products prior to the pandemic have made the company more resilient.

In China, same-store sales were down about 85% and 15% during the first and second months of the quarter, but have picked up again in April and May.

Shares galloped $2.53, or 2.1%, to $124.71 early Tuesday.

Source: marketwatch

WDC Elects Feriel Zerouki as President from 2022

De Beers executive Feriel Zerouki will succeed Edward Asscher as president of the World Diamond Council (WDC) in 2022, the organization said Monday.

Zerouki, De Beers’ senior vice president of international relations and ethical initiatives, will become the first woman to head the WDC, which works to keep conflict diamonds out of the supply chain. Its board confirmed her election as vice president during a virtual meeting on Friday; according to WDC rules, she will automatically become president when Asscher’s current term ends two years from now.

Asscher, president of the Amsterdam-based Royal Asscher Diamond Company, took over at the WDC on Friday, stepping up from his previous position as vice president. He replaces Stephane Fischler, and will be serving his second term at the helm, after holding the role from 2014 to 2016.

The WDC board also confirmed the reelection of Ronnie Vanderlinden, president of the International Diamond Manufacturers Association, as treasurer, and the appointment of Udi Sheintal as secretary.

Source: diamonds.net

Alrosa Sells 102 of 800 Rough Diamonds at Biggest Online Sale

Alrosa’s long-term clients bought 102 of more than 800 large rough diamonds offered in the company’s biggest ever digital tender.

The remaining stones will now be made available to other customers to select from 5-10 carats batches.
For the first time, the Russian state-owned miner sold diamonds online from boxes, piece by piece, in response to COVID-19 restrictions.
It provided prospective buyers with 3D-scans data detailing each stone’s external shape, internal inclusions, color and fluorescence during the first round of the online sale, from 15 to 29 May.
The remaining stones will now be offered in a second digital tender which starts today.
Evgeny Agureev, deputy CEO, said: “The results of the digital tender’s first round show that demand for rough diamonds persists at the market, and our clients are ready to buy diamonds through the online channel.
“To the second round of the digital tender, we have additionally invited our spot and auctions partner companies.”
It has been holding pilot digital tenders with a small number of stones since October 2019, but has responded to the COVID-19 pandemic by making many more diamonds available.making many more diamonds available.

Alrosa is allowing approved buyers to defer all purchases at its contract sale later this month. Profits slumped last year, the company has revised down its 2020 production forecasts and has suspended work at some of its less-profitable mines.

Source: IDEX

Botswana Diamonds recovers over 100 macro diamonds

Botswana Diamonds PLC announced that it has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa. The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as ‘Dump E’.

Highlights:

87 macro diamonds were recovered from the fresh kimberlite giving a modelled grade of 50 cpht. (carats per hundred tons)
24 macro diamonds were recovered from Dump E giving a modelled grade of 16 cpht.

Grades are quoted at a +1.5 mm screen bottom size cut off

James Campbell, Managing Director, commented: “This bulk sampling campaign, which was carried out with the company’s royalty mining contractor Eurafrican Diamond Corporation, had two objectives. The first was to test the grade of the fresh kimberlite and the second was to confirm the grades of one of the mine dumps. Both were achieved, and proof of the fresh kimberlite grade paves the way for further exploration work on Marsfontein to target potential blows.

“The kimberlite grade is aligned with those achieved at Klipspringer mine and Thorny River, which are both nearby, indicating the considerable extent of the kimberlite dyke system. Options will be investigated on exploitation of the dumps once the nationwide lock down in South Africa is lifted and a sense of normality returns to diamond markets, post the global Covid-19 pandemic crisis.”

Results of the bulk sampling program, including modelled results are illustrated in the table below:

Source	Sample Size (tons)	No of stones	Carats	Raw Grade (cpht) +1.7mm BCOS	Average stone size cts	Largest stone cts	Modelled Grade (cpht) +1.5mm BCOS	Modelled Grade (cpht) +1.0mm BCOS

Kimberlite	58	87	16.53	28.5	0.19	2.28	50	53

Dump E	62	24	6.77	10.9	0.28	1.38	16	21

Botswana diamonds

The fresh kimberlite was identified as originating from the M8 dyke system, which extends to the Klipspringer diamond mine c.11 km to the west and the company’s Thorny River project to c.5 km the east. The Dump E material was predominantly a mix of M8 kimberlite and dolerite.

Both samples were treated at Eurafrican Diamond Corporation’s processing facility. They were subjected to primary and secondary crushing, pan plant concentration, grease and x-ray recovery and jigging with a nominal bottom cut-off of +1.7mm. These tailings have been retained for future analyses, as required.

The grade modelling was undertaken by Interlaced Consulting. It assumed a conventional kimberlite processing plant, including a re-crush circuit (to recover more finer diamonds).

Modelled results determined are in line with previous estimates and diamond recoveries from the nearby Klipspringer diamond mine.

Work will re-commence at Marsfontein and Thorny River as soon as Covid-19 restrictions are lifted to enable travel to the work areas.

Source: resourceworld.com